Proposed US Bill Targets China for Keeping Currency Low
A 50 yuan note. (Photo: Pixel23/Wikipedia)
You would think a bill with bipartisan support on Capitol Hill would be welcomed by the nation’s political leaders.
But one such bill currently before the US Senate has both President Obama and House Speaker John Boehner worried.
The bill is called the Currency Exchange Rate Oversight Reform Act and it would punish China for undervaluing its currency.
It would allow the US to put duties on goods from China that the US deemed to be artificially cheap.
China has warned that passage of the bill could trigger a trade war with the United States.
Anchor Marco Werman talks to Daniel Rosen, a partner at the Rhodium Group, an economic advisory firm. He has studied China’s economy for a long time.
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